HP Inc. (NYSE:HPQ) Shares Acquired by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 18.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,502 shares of the computer maker’s stock after acquiring an additional 2,464 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in HP were worth $556,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Summit Wealth Partners LLC acquired a new position in shares of HP during the third quarter valued at approximately $202,000. AustralianSuper Pty Ltd boosted its holdings in HP by 4.1% during the third quarter. AustralianSuper Pty Ltd now owns 4,199,076 shares of the computer maker’s stock worth $150,621,000 after buying an additional 165,407 shares in the last quarter. US Bancorp DE boosted its holdings in HP by 0.7% during the third quarter. US Bancorp DE now owns 291,593 shares of the computer maker’s stock worth $10,459,000 after buying an additional 1,917 shares in the last quarter. Nikulski Financial Inc. boosted its holdings in HP by 7.4% during the third quarter. Nikulski Financial Inc. now owns 6,420 shares of the computer maker’s stock worth $230,000 after buying an additional 444 shares in the last quarter. Finally, Oak Harvest Investment Services boosted its holdings in HP by 1.0% during the third quarter. Oak Harvest Investment Services now owns 157,106 shares of the computer maker’s stock worth $5,635,000 after buying an additional 1,516 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by insiders.

HP Trading Up 2.5 %

HPQ stock traded up $0.88 during midday trading on Friday, reaching $36.40. The company had a trading volume of 567,172 shares, compared to its average volume of 7,757,108. HP Inc. has a 1 year low of $26.67 and a 1 year high of $39.52. The company has a market capitalization of $35.08 billion, a P/E ratio of 12.46, a PEG ratio of 2.66 and a beta of 1.07. The company has a 50 day moving average of $35.64 and a two-hundred day moving average of $34.30.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its board has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HPQ. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Morgan Stanley reduced their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.